Exhibit
10.20


 







AMENDMENT
NO. 5


 


TO
LEASE AGREEMENT


 


BETWEEN


 


MTI
INSTRUMENTS INC.


 


AND


 


CETF
PROPERTIES, LLC


 


This
Amendment to Lease is made and entered into this 30th day of June 2021 by and between MTI Instruments Inc. (“Tenant”),
and CETF Properties, LLC (“Landlord”).


 


Whereas,
Tenant and the Landlord entered into a Lease on August 10, 1999 with respect to a portion of the building known as 325 Washington
Avenue Extension, Albany, NY 12205 (the “Lease”), as amended on September 29, 2009, May 2, 2014, January 1, 2018 and
December 4, 2019.


 


Whereas,
the parties hereto wish to further amend the Lease as hereinafter provided.


 


Now,
therefore, in consideration of One Dollar ($1.00) each to the other paid, receipt of which is hereby acknowledged, the Lease is
amended as follows:


 


		1)	As
                                         of August 1, 2021, the Landlord agrees to lease an additional 3,478 square feet of contiguous
                                         space to Tenant for a term to be coterminous with existing lease. See Exhibit A.



 


		2)	Article
                                         2 shall be amended to read:



 


As
of August 1, 2021, the premises will consist of approximately 20,902 square feet of space in the building known as 325 Washington
Avenue Extension, Albany, NY 12205


 


		3)	Article
                                         3.1 shall be amended to read:



 


The
lease term shall be extended for one (1) month from December 1, 2024 —December 31, 2024.


 


		4)	The
                                         Base Rent in Article 4.1 shall be:



 


08/1/2021
- 10/31/2021: $16,407.60/month; $11.30/sf





11/1/2021
- 12/31/2024: $236,192.60/year; $19,682.72/month; $11.30/sf


 


		5)	Article
                                         5.2 shall be amended to read:



 


As
of August 1, 2021, the Tenant’s proportionate share is 79.57% and is calculated as follows: Tenant’s square feet,
20,902, divided by the total square feet in the building, 26,268.


 






    


     

    

 


		6)	Landlord
                                         shall make the following improvements to the additional space at Landlord’s expense:



 


		-	Paint
                                         the walls in the new office space to match the existing office space.






		-	Install
                                         new carpet tiles in the new office space to match the existing office space.






		-	Remove
                                         the closet and open the hallway wall between the existing space and additional space.



 


Whereas
the parties have entered into a Janitorial Service Agreement on 1/1/2018, effective August 1, 2021 the payment amount is:


 


08/1/2021
- 10/31/2021: $2,105.40/month; $1.45/square foot





11/1/2021
- 12/31/2024: $30,307.90/year; $2,525.66/month; $1.45/square foot


 


If
the August 1, 2021 commencement date is not met, Tenant will receive a daily credit of $112.15, based on the date the additional
3,478 SF is complete. The credit will be applied to the November 1, 2021 rent payment.


 


In
all other respects the Lease, as amended, shall remain in full force and effect, and is hereby ratified and confirmed.


 





	 	 	 	LANDLORD:	 
	 	 	 	 	 	 
	 	 	 	CETF PROPERTIES, LLC	 
	 	 	 	 	 	 
	 	 	 	By:	/s/ Charles
    Touhey	 
	 	Witness	 	 	      Charles Touhey, Manager	 
	 	 	 	 	 	 
	 	 	 	TENANT:	 
	 	 	 	 	 	 
	 	 	 	MTI INSTRUCMENTS INC.	 
	 	 	 	 	 
	 	 	 	By:	/s/ Jessica
    Thomas	 
	 	Witness	 	 	 	 
	 	 	 	 	 	 
	 	 	 	Its:	CFO	 




  






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